On May 25, the Commodity Futures Trading Commission announced that on June 9, from 10:00 a.m. to 12:00 p.m., the Agricultural Advisory Committee (AAC) would hold a public meeting via teleconference. At this meeting, the AAC will receive a report from the subcommittee that has been evaluating CFTC policy with respect to the implementation of
commodity derivatives
ESMA Publishes Statement Announcing Supervisory Approach to MiFID II Position Limits for Commodity Derivatives
Posted in EU Developments, Financial Markets
On March 19, the European Securities and Markets Authority (ESMA) published a statement announcing a new Directive relating to its supervisory approach to position limits for commodity derivatives under the Markets in Financial Instruments Directive (MiFID II) (the Statement).
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MiFID II “Quick Fix” Adopted in Response to COVID-19
On February 15, the Council of the European Union (the Council) published a press release announcing the adoption of a “quick fix” amendment to the revised Markets in Financial Instruments Directive (MiFID II) in response to the economic impact caused by the COVID-19 pandemic (the Amendment).
The key changes to MiFID II in the Amendment include:
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FCA Publishes Statement on MiFIR Trade Reporting and Position Limit Obligations
Posted in Brexit, Financial Markets
On October 1, the United Kingdom’s (UK) Financial Conduct Authority (FCA) published a statement on trade reporting and position limit obligations under the Markets in Financial Instruments Regulation (MiFIR) (the Statement).
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MiFID II: FCA Publishes Regulatory Forbearance on the 10 Percent Depreciation Rule
Posted in EU Developments, Financial Markets
On October 1, The European Securities and Markets Authority (ESMA) issued a statement relative to its approach to the application of the Markets in Financial Instruments Directive (MiFID) and Markets in Financial Instruments Regulation (MiFIR) following the end of the Transition Period on December 31 provided for in the Agreement on the withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union (EU) and the European Atomic Energy Community (Withdrawal Agreement).
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ESMA Publishes Data for Systematic Internaliser Calculations for Equity, Equity-Like Instruments, Bonds and Other Non-Equity Instruments
Posted in EU Developments, Financial Markets
On July 31, the European Securities and Markets Authority (ESMA) published data for the systematic internaliser (SI) quarterly calculations for equity, equity-like instruments, bonds and, for the first time, other non-equity instruments under the revised Markets in Financial Instruments Directive (MiFID II) and Markets in Financial Instruments Regulation.
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FCA Statement on Amendments to MiFID II Position Limits
On June 16, the UK Financial Conduct Authority (FCA) published a statement setting out the changes it has made to a number of position limits for commodity derivative contracts traded on ICE Futures Europe (the Statement).
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FCA Notice on Position Limits for Certain Commodity Derivative Contracts
Posted in Financial Markets, UK Developments
On May 5, the UK’s Financial Conduct Authority (FCA) published a notice on its updated position limits for certain commodity derivative contracts traded on UK trading venues (the Statement).
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CFTC Approves Proposed Amendments to Its Bankruptcy Rules
By Kevin M. Foley & Jack A. West on
Posted in CFTC, Derivatives
At the Commodity Futures Trading Commission (CFTC) open meeting on April 14, the CFTC unanimously approved proposed amendments to Part 190 of its rules governing bankruptcy proceedings of commodity brokers, including futures commission merchants (FCMs) and derivatives clearing organizations (DCOs). The proposed amendments are intended to comprehensively update Part 190 to reflect current market practices. Among other revisions, the proposed amendments to Part 190 would:
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ESMA Publishes a Review Report on Position Limits and Management under MiFID II
Posted in EU Developments, Financial Markets
On April 1, and following a recent consultation, the European Securities Markets Authority (ESMA) published a review report on position limits under MiFID II (the Review Report) and a report on technical advice on weekly position reporting (the Technical Advice Report).
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